Ethereum Co-Founder Vitalik Buterin Discusses Centralization of PoW

According to PANews, Ethereum co-founder Vitalik Buterin recently expressed his views on the centralization of Proof of Work (PoW) on an unnamed platform. He stated that PoW is quite centralized, but it is not discussed as much because everyone understands that it is only a temporary phase before the transition to Proof of Stake (PoS). Buterin did not delve into how we might primarily avoid Application-Specific Integrated Circuits (ASICs), simply because the impending switch to PoS means there is no incentive to build them. His comments highlight the ongoing debate in the crypto community about the centralization and decentralization of blockchain technologies. The Ethereum co-founder's remarks come at a time when the crypto industry is preparing for the transition from PoW to PoS, a move that is expected to address issues of scalability and energy consumption. Buterin's comments underscore the temporary nature of PoW and the anticipation for the switch to PoS.